Saudi Basic Industries Corp. announces its Interim Financial results for the Period Ending on 2024-09-30 ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	36.88	35.98	2.501	35.72	3.247
Gross Profit (Loss)	7	6.4	9.374	7.19	-2.642
Operational Profit (Loss)	2.48	1.68	47.619	2.1	18.095
Net profit (Loss)	1	-2.88	-	2.18	-54.128
Total Comprehensive Income	1.57	-2.88	-	2.05	-23.414
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	105.28	106.51	-1.154
Gross Profit (Loss)	20.06	17.5	14.628
Operational Profit (Loss)	5.79	5.08	13.976
Net profit (Loss)	3.43	-1.04	-
Total Comprehensive Income	3.15	-0.75	-
Total Shareholders Equity (after Deducting Minority Equity)	165.48	173.9	-4.841
Profit (Loss) per Share	1.14	-0.35
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	In Q3 2024, the company’s revenue increased by 3% year-over-year, with revenue amounting to SAR 36.88 billion which is primarily attributed to the improvements of the average selling prices offset by a slight decrease in sales volume.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The net profit for this quarter reached SAR 1 billion as compared to net loss of SAR 2.88 same quarter last year, this is mainly attributed to:

• Higher income from operations by SAR 797 million as a result of higher gross profit margin offset by increased operational cost, divestment gain of Functional Forms business and gain from currency exchange in Q3 2024.

• Lower net loss from discontinued operations by SAR 3.3 billion which was mainly related to fair value assessment of Saudi Iron and Steel Company (Hadeed) being classified as discontinued operation until the deal is closed as announced previously.

• The aforementioned items were offset with a lower finance income by SAR 390 million mainly due to fair valuation of derivative equity instruments which are non-cash in nature.The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is In Q3 2024, the company’s revenue increased by 3% quarter-over-quarter, with revenue amounting to SAR 36.88 billion which is primarily attributed to the increase in the sales volume partially offset by a slight decrease in average selling prices.The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The net profit for this quarter reached SAR 1 billion as compared to SAR 2.18 billion in the previous quarter, this is mainly attributed to:

• Decreased gross profit by SAR 194 million (-3%) due to lower selling prices and higher feedstock prices.

• Increase in operating expenses by SAR 223 million.

• Lower results from associates and joint ventures by SAR 313 million, including fair value assessment loss as a result of an agreement to sell shares of Alba which was announced in 17th of September, 2024.

• Zakat expense of SAR 397 million in Q3 2024 compared to positive non-cash benefits of SAR 545 million in Q2 2024 due to a reversal of Zakat provision resulted from the updates of the related regulations.

• The aforementioned items were offset by an increase of other operating income by SAR 757 million net mainly due to non-recurring charges recorded in Q2 2024 and a gain from divestment of Functional Forms business as well as currency exchange gains recorded in Q3 2024.The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The first 9-month period of 2024, the company’s revenue decreased by 1% year-over-year, with revenue amounting to SAR 105.28 billion which is primarily attributed to the decrease in the sales volume partially offset by an increase in average selling prices.The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The net profit for the period reached SAR 3.43 billion compared to net loss of SAR 1.04 billion for the same period of the last year, this is mainly attributed to:

• Higher income from operations by SAR 704 million as a result of higher gross profit margin offset by increased operational cost.

• A decrease in net loss from discontinued operations amounted SAR 515 million in 2024 compared to SAR 3.82 billion in same period of last year, which was mainly related to fair value assessment of Saudi Iron and Steel Company (Hadeed) being classified as discontinued operation until the deal is closed as announced previously.

• Lower Zakat expenses by SAR 1.05 billion compared to the same period of last year, since in June 2024 there was a reversal of Zakat provision resulted from the updates of the related regulations.

• The aforementioned items were offset with lower finance income by SAR 953 million mainly due to lower gains from fair valuation of derivative equity instruments which are non-cash in nature.Statement of the type of external auditor's report Unmodified conclusionComment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) -Reclassification of Comparison Items Certain prior period figures have been re-classified to conform with the current period presentation. Saudi Iron and steel company (Hadeed) results are being disclosed separately as results from discontinued operations in the consolidated financial statements, in accordance with IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations”.Additional Information Year to date, the earnings before financial expenses, zakat, taxes, depreciation and amortization (EBITDA) amounted to SAR 15.90 billion, compared to SAR 15.68 billion in the previous year, translating to an EBITDA margin of 15.1% compared to 14.7% for the same period last year.

-Attached Q3 2024 earnings release and presentation.Attached Documents

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